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Compare Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB) vs BMO Short Corporate Bond Index ETF (ZCS) to find the best fit for your portfolio. PSB provides Pipelines, Power, and Communication services exposures, while ZCS is primarily weighted in Banks, Pipelines, and Communication services. When evaluating costs, PSB features a management fee (MER) of 0.25%, compared to 0.1% for ZCS. Performance-wise, PSB has returned 0.75% year-to-date with +$8 M in net flows, whereas ZCS is at 0.75% with -$135 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
PSB
ZCS
| AuM | $539.90 M | $4,184.50 M |
| Management Fees | 0.25% | 0.10% |
| Exp. ratio | 0.27% | 0.11% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PSB | +0.95% | +0.22% | +0.75% | +4.16% | +16.59% |
ZCS | +1.02% | +0.25% | +0.75% | +4.22% | +17.65% | |
| Flows | PSB | -$114 M | +$17 M | +$8 M | -$28 M | +$91 M |
ZCS | +$85 M | -$35 M | -$135 M | +$129 M | +$2,831 M |
PSB vs ZCS exposure
Countries
PSB
Canada
100.00%
ZCS
Canada
100.00%
Sectors
PSB
Pipelines
21.46%
Power
14.62%
Communication services
12.47%
Insurance and reinsurance
11.84%
Oil and gas extraction and refining
7.45%
Other
32.15%
ZCS
Banks
43.26%
Other
14.39%
Pipelines
13.21%
Other
29.14%
As of April 24, 2026
Top 10 Holdings
PSB
Greater Toronto Airports Authority, 1.54% 3may2028, CAD (2020-1)
2.57%
AltaGas, 2.075% 30may2028, CAD (22)
2.44%
Bell Canada, 2.2% 29may2028, CAD (M-56)
2.40%
WSP Global, 2.408% 19apr2028, CAD
2.37%
Fortis Inc, 2.18% 15may2028, CAD
2.35%
TransCanada PipeLines, 3.39% 15mar2028, CAD
2.27%
Intact Financial, 2.85% 7jun2027, CAD
2.24%
Pembina Pipeline Corporation, 4.02% 27mar2028, CAD (10)
2.24%
Choice Properties REIT, 4.178% 8mar2028, CAD (L)
2.22%
Enbridge, 6.625% 12apr2078, CAD (2018-C, Conv.)
2.22%
ZCS
Bank of Montreal, 4.709% 7dec2027, CAD
7.38%
Bank of Montreal, 3.19% 1mar2028, CAD
6.50%
Toronto-Dominion Bank, 4.477% 18jan2028, CAD
5.15%
CA779926QX54
5.09%
CIBC, 3.8% 10dec2030, CAD
4.34%
CA89116C3S44
4.29%
TransCanada PipeLines, 5.277% 15jul2030, CAD
3.81%
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
3.71%
Royal Bank of Canada, 4.632% 1may2028, CAD
3.70%
RBC Capital Markets, 4% 17oct2030, CAD
3.64%
Diversification
PSB
Total weight of top 10 holdings out of 50 total
23.33%
ZCS
Total weight of top 10 holdings out of 40 total
47.60%
Characteristics
Compare
PSB
ZCS
| Provider | Invesco | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE TMX Canada Investment Grade Laddered Corporate 1/5 Y Bond Total Return Index - CAD | FTSE TMX Canada Short Term Corporate Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.19% | 3.80% |
| Meets ESG criteria | No | No |
| Inception Date | June 15, 2011 | October 20, 2009 |
Frequently asked questions about PSB and ZCS
Which ETF has performed better year to date: PSB or ZCS?
As of April 24, 2026, PSB has returned 0.75% year to date, while ZCS has returned 0.75%. ZCS is ahead on YTD performance.
Which ETF is larger by assets under management: PSB or ZCS?
As of April 24, 2026, PSB manages $539.90 M in assets, while ZCS manages $4.18 B. ZCS is the larger fund by AUM.
How are PSB and ZCS managed?
PSB is passively managed by Invesco. It tracks the FTSE TMX Canada Investment Grade Laddered Corporate 1/5 Y Bond Total Return Index - CAD benchmark. ZCS is passively managed by BMO. It tracks the FTSE TMX Canada Short Term Corporate Bond Index - CAD benchmark.
What sectors do PSB and ZCS emphasize?
PSB is most exposed to Pipelines, Power, and Communication services. ZCS is most exposed to Banks, Pipelines, and Communication services.
Which ETF is attracting more investor flows: PSB or ZCS?
Year to date, PSB has seen +$8.05 M in net flows, compared with -$135.50 M for ZCS. PSB has attracted more net investor money so far.
How do the fees of PSB and ZCS compare?
PSB has an expense ratio of 0.27%, while ZCS has an expense ratio of 0.11%.
What are the top holdings of PSB and ZCS?
PSB's largest holdings include Greater Toronto Airports Authority, 1.54% 3may2028, CAD (2020-1), AltaGas, 2.075% 30may2028, CAD (22), and Bell Canada, 2.2% 29may2028, CAD (M-56). ZCS's top holdings include Bank of Montreal, 4.709% 7dec2027, CAD and Bank of Montreal, 3.19% 1mar2028, CAD.
Which ETF is more diversified: PSB or ZCS?
PSB holds 50 securities, while ZCS holds 34. On holdings count, PSB is the more diversified portfolio.
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